UBS: These 15 companies will benefit the most as Americans start paying less taxes next month

Americans should start to see the impact of the Republican tax law next month. The Internal Revenue Service has directed employers to update their income-tax withholdings to reflect the new law by February 15.

"We find that lodging, entertainment, housing, other transport (i.e. air) should benefit most, with incremental growth of ~3% above prior baseline levels, followed by alcohol and new cars," Keith Parker, the head of US equity strategy at UBS, said in a note on Thursday.

Based on new guidance from the Internal Revenue Service, UBS estimates that the monthly pay increases would range from $86 for a couple earning $50,000 to $1,456 for a couple earning $500,000.

The bank's consumer analysts picked 15 stocks they see as the biggest beneficiaries from higher disposable incomes.